Despite Maldives Malevolence, India Still Spending Crores Into Island Projects
Date
2/19/2024 2:00:36 PM
(MENAFN- AsiaNet News) Despite recent strains in diplomatic relations between India and the Maldives, India has ramped up its development assistance to the island nation. This move comes in the wake of demands from the new Maldivian president, Mohamed Muizzu, for Indian troops to leave the country, leading to heightened tensions between the two nations.
Maldives declares bankruptcy, seeks IMF bailout amid economic turmoil: Reports
India's commitment to its engagement with the Maldives is evident in its increased spending on various development projects, amounting to nearly Rs 771 crore, almost double the budgeted amount. Key among these initiatives is a $500-million project aimed at enhancing road and bridge infrastructure in and around Male, the Maldives' capital. Additionally, India is supporting the construction of two airports on remote islands, with each airport project costing nearly $130 million. These endeavours are funded through a line of credit extended by India.
Despite shifts in the Maldives' foreign policy, which have leaned towards China, India has not paused its development cooperation with the country. On the contrary, the pace of projects has accelerated, thanks to increased allocations in India's fiscal budget for this year.
India's commitment to continuing its developmental efforts in the Maldives is resolute, irrespective of the prevailing political situation. While President Muizzu recently visited Beijing, his visit to India is pending. Both nations have agreed to replace Indian troops in the Maldives by May, emphasizing that these troops primarily provide humanitarian aid and assistance with medical evacuations.
India's budgetary records reflect a significant increase in spending on development projects in the Maldives, reaching 7.71 billion rupees in the current fiscal year, compared to 1.83 billion rupees in the previous year. This places India as the second-largest contributor to development projects in the Maldives, following neighbouring Bhutan.
However, despite India's ongoing assistance, the Maldives has permitted a Chinese research vessel to dock at its port, raising apprehensions for India's security interests. India views the presence of extra-regional powers, particularly China, in the Indian Ocean region as a potential threat to its security.
MENAFN19022024007385015968ID1107871254
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.